Aston Martin investor to build Ferrari Land in Spain for 2016, including the
first Ferrari-themed hotel

Europe will get its own Ferrari theme park after the Italian firm agreed to lend its name to a second attraction to be built in Spain, the company has announced.

Ferrari Land will be constructed near Barcelona by InvestIndustrial, the same Italian-based venture capital company that invested in Aston Martin last year.

The new theme park joins Abu Dhabi’sFerrari World, which opened in 2010 and offers such attractions as the V12 log-flume “journey into the heart of a 12-cylinder Ferrari 599 engine” and the Formula Rossa rollercoaster, said to offer a “true F1 experience” by accelerating to 150mph in less than five seconds.

The new theme park, due to open in 2016, won’t be as big at 75,000 square meters against 200,000 for the Abu Dhabi attraction, but it will feature Europe’s highest and fastest vertical accelerator, the company said. It will also have the first Ferrari-themed hotel, which will be shaped to resemble an F1 front wing and is promised to be a five-star establishment with 250 rooms and a driving simulator.

“After the success of Ferrari World in Abu Dhabi, we received many, many requests to develop new amusement parks,” Andrea Perrone, CEO of Ferrari Brand, said in a statement. “We decided to accept Investindustrial’s because it is a very solid plan developed by competent people.” He added that Ferrari is continuing to evaluate other proposals for theme parks outside Europe.

The new Ferrari Land is set to cost 100 million euros (£83 million) and will built within the popular PortAventura theme park, which is owned by InvestIndustrial.

Ferrari does very well from selling its name to not just the theme parks but also the Ferrari stores and branded tie-ins with companies such as Hublot watches and Puma shoes. Last year it made 54 million eurosfrom selling its name, up on the year before, it revealed earlier this year.